Inchcape plc Stock Forecast
On Thursday, Inchcape plc stock price gained an impressive 9.32%
(Updated on Apr 25, 2024)
The Inchcape plc stock price gained 9.32% on the last trading day (Thursday, 25th Apr 2024), rising from £719.00 to £786.00. During the last trading day the stock fluctuated 6.35% from a day low at £748.00 to a day high of £795.50. The price has been going up and down for this period, and there has been a 9.47% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 566 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately £1.24 billion.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at £768.27, a level that may pose a second chance to hit a runner. According to fan-theory £869.59 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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INCH.L Signals & Forecast
The Inchcape plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £734.79 and £698.67. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 12.53%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Inchcape plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £727.00 and £726.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Inchcape plc finds support just below today's level at £727.00. If this is broken, then the next support from accumulated volume will be at £726.00 and £642.50.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £47.50 between high and low, or 6.35%. For the last week the stock has had daily average volatility of 3.05%.
Our recommended stop-loss: £756.45 (-3.76%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (INCH.L) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Inchcape plc to open at £776.50, and during the day (based on 14 day Average True Range), to move between £762.48 and £809.52, which gives a possible trading interval of +/-£23.52 (+/-2.99%) up or down from last closing price. If Inchcape plc takes out the full calculated possible swing range there will be an estimated 5.98% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £727.00, some £59.00 (7.51%) from the current price of £786.00, our system finds the risk reward attractive.
Is Inchcape plc stock A Buy?
Inchcape plc holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.701 Strong Buy Candidate Upgraded
Predicted Opening Price for Inchcape plc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| £776.50 ( 1.21%) | £786.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INCH.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 824.00 | 4.83 % | |
| R2 | 805.86 | 2.53 % | ||
| R1 | 794.65 | 1.10 % | ||
| Current price: | 786.00 | |||
| Support | S1 | 758.36 | -3.52 % | |
| S2 | 747.15 | -4.94 % | ||
| S3 | 729.00 | -7.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 786.00 | |||
| Support | S1 | 727.00 | -7.51% | |
| S2 | 726.00 | -7.63% | ||
| S3 | 642.50 | -18.26% |
INCH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | May 02, 2024 | Jun 17, 2024 | £24.30 | 3.09% |
| 2 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | £9.60 | 1.20% |
| 3 | May 11, 2023 | May 11, 2023 | May 11, 2023 | £21.30 | 2.77% |
| 4 | Jul 28, 2022 | Aug 04, 2022 | Sep 02, 2022 | £7.50 | 1.00% |
| 5 | Feb 24, 2022 | May 12, 2022 | Jun 21, 2022 | £16.10 | 2.22% |
FAQ
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